Blame it on the news cycle, but recently I found myself simmering a stock of bones from last year’s hunt. A game stock, as it were.
Earlier that day I had purchased a “put” option on GameStop for my IRA, a modest investment in the possibility this particular stock might crater. Sure, three hedge funds had lost their shirts, and a combined $3 billion, on precisely the same bet just one week before. But I had structured my investment so the maximum loss would be limited to $44, whilst my gains, if the Game were to Stop in short order, would be in the thousands of bones.
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